Ah, the lengths some media outlets will go to in search of a compelling headline!
It’s almost impressive.
But here’s a headline for you: “CNN Discovers True Cause of Inflation: Beyoncé and Taylor Swift.”
At first glance, one might think it’s an Onion article or some sort of satire.
But alas, this is 100% genuine, front-and-center, prime-time CNN narrative peddling.
Now, let’s pause for a moment and indulge in the sheer audacity of this claim.
The global economy is vast, complicated, and influenced by countless factors — from geopolitical tensions and oil prices to central banking decisions and government policies.
But according to CNN, it appears that two of the world’s leading pop stars, both women, mind you, are apparently powerful enough to cause inflation with their concert tours. That’s right, folks.
Never mind fiscal policies or supply chain disruptions.
Beyoncé and Taylor Swift are the true puppet masters of our economy.
Move over Federal Reserve, these ladies have got it covered!
Isn’t it ironic?
In an era where we’re striving for gender equality and combatting deeply entrenched stereotypes, it seems oddly… let’s just say it: sexist to pin economic woes on two female entertainment giants.
Especially without a shred of solid evidence to back such a claim.
It’s a curious choice and makes one wonder if this isn’t just another attempt by CNN to shift the narrative away from the actual causes of inflation, possibly to protect certain political interests.
After all, blaming Biden’s policies might be a little too close to home for them.
— CNN (@CNN) August 11, 2023
It’s the summer of girl power, fueled by Beyoncé, Taylor Swift and “Barbie.”
Millions of people across generations are paying through the nose for these experiences. https://t.co/FAmOPDBfEe
— CNN International (@cnni) August 9, 2023
"CNN reported on Wednesday that we may have new culprits for inflation: Beyonce and Taylor Swift."
— Washington Examiner (@dcexaminer) August 11, 2023
But here’s the silver lining: if anything, this story just goes to show how desperate some outlets have become to spin narratives.
It’s almost amusing to imagine the brainstorming session that birthed this theory. “Guys, we can’t blame Biden… what if… hear me out… it’s Taylor Swift and Beyoncé?!”
So next time you’re at the grocery store and notice that milk prices have gone up, just remember — somewhere out there, Taylor Swift is probably doing a soundcheck.
And that, according to CNN, is the real reason for your economic woes.
Per the Washington Examiner:
CNN reported on Wednesday that we may have new culprits for inflation: Beyonce and Taylor Swift.
“Taylor Swift and Beyonce are impacting inflation and the GDP with their respective tours,” CNN tweeted with a segment discussing the macroeconomic impact of the tours of the two celebrities.
CNN isn’t alone. CNBC made a similar claim in a report on “tourflation” in July, which explored the surge in prices localities experience when Beyonce and Swift come to town.
“It’s not just that the tickets become more expensive,” Klaus Baader, global chief economist at Societe Generale, told CNBC. “It’s also that your beer or cider or your Coca-Cola or your hot dog at the venue has also gotten a lot more expensive.”
Isn’t it funny how the media sometimes focuses on the shiniest objects in the room while ignoring the elephant?
It’s almost like a magician’s sleight of hand — “Look over here at this sparkly thing while we avoid discussing the real issues!”
In a world facing complex economic problems, rising inflation, and questions about government financial policies, you’d think that our esteemed media outlets would have their fingers on the pulse, ready to analyze pressing matters.
But, oh no, they’ve found another shiny object to distract us with: Music concerts.
Yes, you read that right.
Instead of delving deep into the reckless government spending, the indiscriminate bailouts, or even questioning the billions being funneled to countries like Ukraine, they’re pointing their fingers at… Taylor Swift.
Because, of course, it’s the pop stars that are truly pulling the strings of the world’s economic crises.
How gullible do they believe the general public is?
Did CNN morph into a comedy channel? 😂 https://t.co/D0vcDF12Zd
— 3rd Degree Byrne (@3rddegreebyrn) August 11, 2023
If you still believe we have a free press check this: Today CNN reported that Taylor Swift has been a boom to local economies throughout the US & even has foreign leaders asking her to tour their nations. CNN also reported that Beyonce's concert in Sweden drove up inflation.
— peoplepowerpodcast (@peoplepowerpod1) August 7, 2023
Don’t get me wrong, concerts and live events do have an economic impact, especially in the local areas where they’re held.
But to stretch this and suggest that Beyoncé, Swift, and others are the primary catalysts behind stubbornly high inflation rates?
That’s like saying my neighbor’s new lawn is the primary reason for global warming.
CNBC is also running with this narrative:
As inflation remains high in many countries around the world, economists have found themselves considering a surprising potential contributor: music concerts.
Beyoncé is currently on her first solo tour since 2016, “Renaisssance,” and Taylor Swift is filling stadiums with her Eras Tour which sparked outrage about Ticketmaster and Live Nation’s power over live event ticketing.
Elsewhere Bruce Springsteen, Elton John, Harry Styles and Ed Sheeran are taking over stadiums, with millions flocking to see the stars — even if there’s a high price to pay for tickets, travel and accommodation.
Meanwhile, inflation remains stubbornly high in many developed economies despite interest rate rises designed to bring prices down. The latest figures for the U.K. came in above expectations at 8.7% on an annual basis, whilst the U.S. consumer price index for May rose by 4% from the previous year.
But what do concerts and the economy have to do with one another? Potentially a lot, according to some economists.
Now, I have no issue with addressing the economic implications of global tours — it’s a legitimate discussion.
However, when placed in the grander scheme of things, the prioritization seems a tad skewed.
Perhaps, instead of laying the blame on musicians who provide joy and escapism for millions, it might be more apt to discuss the mountain of issues that have led us to this precarious economic position in the first place.
But, hey, what do I know?
Maybe next week, they’ll tell us that the rise in ice cream sales is the real reason behind housing market fluctuations.
Just remember, while they’re pointing you to look one way, always keep an eye out for what they might be trying to hide.